The lottery market has witnessed a significant growth over the past years and inclining at a 10% rate, but despite this significant growth, there are worries concerning trust, security, transparency and reliability. The other unspoken elephant in the room is the fact of excessive administrative and operating expenses that could be pooled back to the community and players. There is a pressing need for an overhaul of the whole lottery industry, a multifaceted approach to simplifying the current lottery model and fixing its defects that leverages the advantages of blockchain technology. Our goal is to build with our partners the infrastructure that allows official and state lotteries to be more circular, with near-zero operating and maintenance cost, in a format designed for the blockchain age ensuring both traditional lottery players and blockchain-enthusiasts enjoy the future, today, while empowering players and maintaining the traditional elements.
80% of lottery ticket sales goes to the prize pool. My Lotto Coin allocates the largest percentage to the jackpot and winners than any traditional and online lottery around the world.
The Ethereum smart contract is public, and anyone with Internet access can see the source code, payments, smart contract balance, and prize pay-outs and all transactions at all time.
All prize and reward distributions are guaranteed by the Ethereum smart contract, with no human or third party involvement, benefiting the safe and secure blockchain environment.
Effortless, claimless, instant and automatic pay-outs, thanks to the autonomous process executed by smart contracts.
Geb-Online’s blockchain-based solution, with a touch from traditional lotteries, provides a full inclusion model that extends beyond current platforms.